Oregon Public Employees Retirement Fund Acquires Shares of 16,837 Echostar CORP $ECHO

Oregon Public Employees Retirement Fund bought a new position in shares of Echostar CORP (NASDAQ:ECHO) in the second quarter, Holdings Channel reports. The firm bought 16,837 shares of the company’s stock, valued at approximately $1,709,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ECHO. Sachem Head Capital Management LP bought a new position in shares of Echostar in the 4th quarter worth $568,218,000. Norges Bank bought a new stake in Echostar in the fourth quarter valued at about $182,111,000. Tema ETFs LLC lifted its stake in Echostar by 83,917.0% in the second quarter. Tema ETFs LLC now owns 1,539,191 shares of the company’s stock valued at $156,228,000 after buying an additional 1,537,359 shares during the period. 140 Summer Partners LP acquired a new position in Echostar in the fourth quarter valued at about $99,678,000. Finally, Atreides Management LP bought a new position in Echostar during the fourth quarter worth about $97,948,000. Institutional investors own 33.62% of the company’s stock.

Echostar Stock Down 0.9%

NASDAQ ECHO opened at $91.68 on Friday. Echostar CORP has a one year low of $26.52 and a one year high of $147.25. The company has a current ratio of 5.20, a quick ratio of 5.12 and a debt-to-equity ratio of 1.13. The stock has a market cap of $26.63 billion, a PE ratio of -3.68 and a beta of 1.03.

Echostar (NASDAQ:ECHO) last posted its earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share (EPS) for the quarter. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%.The business had revenue of $3.67 billion for the quarter. On average, equities research analysts forecast that Echostar CORP will post -1.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TD Cowen lowered their price target on Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. New Street Research set a $165.00 price objective on shares of Echostar in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $137.00 price objective on shares of Echostar in a report on Wednesday, July 15th. Weiss Ratings started coverage on shares of Echostar in a report on Monday, July 6th. They issued a “sell (d-)” rating on the stock. Finally, Williams Trading set a $155.00 price target on shares of Echostar in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.00.

Insider Buying and Selling at Echostar

In related news, Director Stephen J. Bye sold 8,508 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $89.83, for a total value of $764,273.64. Following the sale, the director directly owned 653 shares of the company’s stock, valued at approximately $58,658.99. The trade was a 92.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hamid Akhavan sold 52,586 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $121.00, for a total transaction of $6,362,906.00. Following the completion of the transaction, the chief executive officer directly owned 865,633 shares of the company’s stock, valued at approximately $104,741,593. The trade was a 5.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.00% of the stock is owned by corporate insiders.

Echostar Profile

EchoStar Corporation is a communications company that provides satellite and wireless services, video distribution, and broadband connectivity solutions. Its business has historically been centered on satellite technology and related services, serving customers through a range of connectivity and network offerings.

The company operates through several segments that support pay-TV, enterprise, government, and consumer communications needs. Its services and technologies have included satellite television distribution, broadband satellite access, network infrastructure, and wireless communications capabilities.

EchoStar was founded in 1980 and has long been associated with satellite communications in the United States.